{
    "ok": true,
    "_meta": {
        "isin": "IE0009JOT9U1",
        "asset_scope": "UK_COMPLEX_ASSET",
        "policy_mode": "balanced",
        "policy_mode_description": "UCITS ETFs usually start from a non-complex baseline, but product-level complexity such as synthetic replication, swaps, leverage, inverse exposure, complex debt, commodity roll exposure, or comprehension warnings can override that baseline.",
        "classification_engine_version": "1.0.0",
        "prompt_version": "complex_asset_extract_v1",
        "captured_at_utc": "2026-06-10T20:40:19+00:00",
        "captured_unix": 1781124019
    },
    "classification": "complex",
    "confidence": 0.93,
    "review_required": false,
    "decision_rule_applied": "etc_priips_comprehension_alert_hard_complex_rule",
    "product_policy_branch": "ETC",
    "fund_name": "iShares Physical Gold EUR Hedged ETC",
    "isin": "IE0009JOT9U1",
    "type": "ETC",
    "ucits": false,
    "asset_class": "commodity",
    "replication_method": "physical",
    "signals": {
        "leveraged": false,
        "inverse": false,
        "derivatives_mentioned": true,
        "derivatives_core_strategy": false,
        "derivatives_epm_only": true,
        "swaps": false,
        "funded_swap": false,
        "unfunded_swap": false,
        "synthetic_replication": false,
        "counterparty_risk": false,
        "structured_payoff": false,
        "capital_protection": false,
        "commodity_futures_roll": false,
        "contango_backwardation": false,
        "coco_or_at1_exposure": false,
        "clo_exposure": false,
        "complex_index": false,
        "priips_comprehension_alert": true,
        "securities_lending": false,
        "illiquid_or_hard_to_value_underlying": false,
        "physical_allocated_commodity": true,
        "crypto_digital_asset": false
    },
    "complex_factors": [
        "PRIIPs comprehension alert"
    ],
    "non_complex_factors": [
        "Physical replication",
        "No leverage identified",
        "No inverse exposure identified"
    ],
    "consumer_understanding": {
        "risk_level": "high",
        "drivers": [
            "PRIIPs comprehension alert language",
            "Derivative use appears limited to efficient portfolio management, hedging or risk management"
        ],
        "plain_english_explanation": "The available evidence identifies features that may affect ordinary retail investor understanding. The assessment describes product-level mechanics only and does not judge the knowledge or experience of a specific client.",
        "appropriateness_note": "This is a product-level indicator of features that may affect general investor understanding. It does not determine whether the product is appropriate for a specific client and does not replace a client-specific appropriateness assessment."
    },
    "supporting_evidence": [
        {
            "source": "PRIIPS_KID",
            "signal": "priips_comprehension_alert",
            "quote": "Caution: Investors in Spain - Based on your jurisdiction, you are about to purchase a product that is not simple and may be difficult to understand."
        },
        {
            "source": "KIID",
            "signal": "physical_allocated_commodity",
            "quote": "The Company holds physical gold."
        },
        {
            "source": "KIID",
            "signal": "replication_method_physical",
            "quote": "The Company holds physical gold. Each ETC security has a metal entitlement (\"Metal Entitlement\", which is the amount of physical gold backing the ETC security)"
        },
        {
            "source": "KIID",
            "signal": "derivatives_epm_only",
            "quote": "The Series also aims to reduce the impact of exchange rate fluctuations between the Series currency (EUR) and the currency in which the underlying metal of gold is typically quoted (USD) using a currency hedging overlay."
        }
    ],
    "supporting_data": "Hard complex product feature identified: PRIIPs comprehension alert. Policy mode: balanced. Product type: ETC. UCITS signal not identified. Replication method: physical.",
    "missing_data": [],
    "warnings": [],
    "sources": {
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            "url": "https://oppl.ai/apy/doc_store/IE0009JOT9U1_KIID.txt",
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            "http_code": 200,
            "bytes": 14564,
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            "found": true,
            "http_code": 200,
            "bytes": 13982,
            "error": null
        },
        "factsheet": {
            "url": "https://oppl.ai/apy/doc_store/IE0009JOT9U1_FS.txt",
            "found": true,
            "http_code": 200,
            "bytes": 62,
            "error": null
        },
        "market_data": {
            "url": "https://api.londonstockexchange.com/api/gw/lse/search/autocomplete?q=IE0009JOT9U1&size=3",
            "found": true,
            "http_code": 200,
            "bytes": 61,
            "error": null
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}